Many individuals are chosen as trustees for a family member’s or friend’s irrevocable life insurance trust, only to find they lack the expertise needed to properly manage this complex estate planning tool. As a corporate successor trustee, LITCO can help ease the burden.
why hand off your ILIT trustee duties to the professionals at LITCO?
TOP 5 REASONS NOT TO ACT AS TRUSTEE
AS AN INDIVIDUAL
TOP 5 REASONS TO CHOOSE LITCO AS
SUCCESSOR TRUSTEE
- Managing trust-owned life insurance requires in-depth life insurance expertise
- It is difficult to maintain conflict-free decisions and continuity
- Trustees are personally liable for policy mismanagement, including loss of benefits
- Life insurance trust administration is burdensome and time-consuming
- Tax compliance is critical and mismanagement can lead to penalties, audits, or other issues
- We are the largest manager of life insurance trusts in the country
- We remain conflict-free and independent because we do not market or sell life insurance
- Our team of life insurance specialists ensure each trust remains in compliance with applicable laws
- We handle all of the tedious time-consuming ILIT administration duties
- We provide institutional stability in succession planning, ensuring continuity for families
Our team of independent trust administrators, life insurance experts, and underwriters work to maximize the value of each policy and trust for grantors and beneficiaries.
As successor trustee, we take over the trust management, providing in-depth policy management and trust reporting services.
Trust Administration
- Notify grantors when premiums are due
- Handle Crummey notices to beneficiaries
Policy Reviews
- Annual policy reviews to identify performance issues
- Analyze new or replacement policies for risk prior to acceptance into trust
Policy Management
- Ensure that premiums are paid
- Ensure that policies are in good standing
Trust Management Reporting
- Generate comprehensive reports on all trust activity
- Simplify internal and regulatory audits
Policy Remediation
- Provide solutions for troubled policies, changes in premiums and riders
- Appropriate documentation to mitigate liability
works to maximize the value of policies and eliminates your ILIT workload.
insurance policy experts
Our team of life insurance trust specialists oversee and manage all policies to help maximize results for grantors and beneficiaries.
a true partner
Our transparent model keeps grantors, beneficiaries, and authorized advisors and attorneys informed of policy performance.
eliminate workload
As successor trustee, we assume all of the workload and liability associated with acting as trustee of an ILIT.
ARE YOU READY TO LEARN HOW YOU COULD BENEFIT FROM A CORPORATE TRUSTEE?
Name LITCO as your successor trustee to relieve the burden of managing a complex financial asset. As a friend or family member serving as trustee, you may face challenges in handling the responsibilities of an ILIT; LITCO’s team of life insurance experts properly manage all trust duties, working to provide better results for grantors and beneficiaries.
Life Insurance Trust Company is the largest manager of life insurance trusts in the country
Administered
RECENT BLOG POSTS FOR INDIVIDUAL TRUSTEES:
The financial markets in 2025 continue to experience turbulence, with factors like shifting interest rates, inflationary pressures, and geopolitical uncertainty all contributing to volatility. For...
Trustees of Irrevocable Life Insurance Trusts (ILITs) are charged with managing life insurance policies in a fiduciary capacity. If left unmonitored, an underperforming policy can...
As a financial advisor or estate planning attorney, you’ve likely encountered clients who have named a family member or friend as trustee of their Irrevocable...
For financial advisors and estate planning attorneys managing Irrevocable Life Insurance Trusts (ILITs), handling trust-held life insurance policies can quickly become a complex and time-consuming...
As financial advisors or estate planning attorneys, you may often encounter clients who have established Irrevocable Life Insurance Trusts (ILITs) and named friends or family...
For financial advisors, estate planning attorneys, and life insurance agents, the management of Irrevocable Life Insurance Trusts (ILITs) is a challenging yet crucial part of...
partner with LITCO and your team will gain access to real-time trust data online!
Our online portal allows grantors, beneficiaries and authorized advisors to access trust account documents, annual reports, and additional correspondence from any device. This 24/7 access helps ensure everyone has up to date documents and policy information.
Stay up to date on trust owned life insurance industry news and best practices. Subscribe to our blog to get emails when new posts are published.
